Harshada Zemse (Account Executive) (65 Points)
01 May 2011Please let me know calculation of interest on TDS if we are going to pay TDS on dated 15.5.11 for the month of April2011.
[ 1.5% per month -----TDS amount 50000/-
Then interest should be750* 8days / 30days = 200/- { late payment for 8 days }
Please let me know the above calculation if correct
CA. ANKUR JAIN
(CA.....)
(2800 Points)
Replied 01 May 2011
Interest will be 750/- in your case...........
(1.5% per month or PART OF THE MONTH)
YASH JAIN
(ARTICLE)
(554 Points)
Replied 01 May 2011
Interest on TDS is not in any case under any circumstances charged for part of month.
If u fail to deposit TDS on specified due dates , then u have to pay Interest @ 1.5% P.M even if delay is part of month.........Means if u delay to deposit TDS even for 1 month then pay 1.5% P.M
In case of urs pay Rs.750/- .
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